More like a receivable issue from financially struggling VI. Even the stock price moves in tandem with VI.
As of September 30, 2023, Vi owes Indus Towers Rs 7,351 crore in receivables. This delay in collections has impacted Indus Towers’ financial performance, and the company has made a doubtful debt provision of Rs 5,000 crore against Vi’s receivables. Vi is currently in the process of raising funds to improve its financial health. However, it is unclear when the company will be able to clear its dues to Indus Towers.
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